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Forensic Analysis · Industrial & Scientific Instruments · as of Nov 8, 2026

Bio-Rad Laboratories, Inc. (BIO)

A forensic read on Bio-Rad Laboratories, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective
Forensic grade
Safe
Financial health
6.5
Distress distance
Clean
Earnings quality
1
Forensic signals
10.8%
ROE
0.7%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Bio-Rad Laboratories, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 6.5, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

0.4%
FY2025
Return on invested capital. Return on invested capital is 0.4% in the latest fiscal year and slipping across FY2023–FY2025 from 2.3%. After-tax operating profit was $267M in FY2023 and $36M in FY2025, with operating income at 12.6% of revenue in FY2023, 10.5% in FY2024 and 1.8% in FY2025. The capital base behind it came down -21% across FY2023–FY2025, from $11.4B to $9.0B, so this return is struck on a smaller base than it started on. $1.1B of the $9.0B base at FY2025 is short-term investments (12.2%) — securities held beside cash, which the base keeps because only cash is subtracted from it; they earn the balance sheet's yield, which is not in the operating profit above, so this rate understates what the operating capital earns.

Key fundamentals

Latest Revenue$2.58B
Revenue Growth YoY+0.7%
Revenue CAGR (2yr)-1.7%
Net Margin29.4%
Free Cash Flow$374.6M
Return on Equity10.8%
Debt / Equity0.16x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

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